Jaka: The capital market is a necessity for Albanian entrepreneurship

FSA launches Global Investor Week with representatives of CCIT member businesses and market associations

Chamber of Commerce and Industry of Tirana and the Financial Supervisory Authority organized today, on September 30, 2019, an informative meeting with representatives of the member businesses of the institution and the underlying markets associations, in the framework of the Global Investor Week activities.

In his speech, FSA Chief Executive Officer, Mr. Ervin Koci emphasized the importance of involving businesses in the capital market, as a very good opportunity not only to secure financing but also to contribute directly to the economic development of the country.

“Currently, the ratio of loans credited to deposits in the banking sector is below 50%, which means that deepening the financial market through the development of the capital market is a necessity for the country’s economic development. The deepening of the financial sector will contribute not only to the utilization of unused resources towards the sectors of the real economy, but also to the increase of financing alternatives and the reduction of costs for the business as a whole ”, said Mr. Koci.

The Chairman of Chamber of Commerce and Industry of Tirana, Mr. Nikolin Jaka, said that the capital market instruments are a necessity today, in order for Albanian business to be as competitive as possible in the age of globalization.

Global Investor Week (September 30 – October 6) is organized in all countries adhering to the International Organization of Securities Commissions (IOSCO), with awareness raising and information activities related to the capital market, investment funds and pensions private. The Financial Supervisory Authority will organize other activities and open hours with interest groups in cooperation with the market players in the country.